How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 485.49

+1.8%

Nov 26 3:59 PM EST

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To: johnd who wrote (29007)	9/1/1999 8:22:00 PM
From: codawg	Read Replies (1) of 74651

>>Why would some one buy 16950 contracts of Sept 120 puts at 28.<< When someone buys puts this deeply in the money, it's a proxy for the common. In other words, it's a cheap way to short the common over the next 11 trading days and get basically one to one price action (this is called a "good delta" by us option wonks). Maybe Alan Abelson opened a hedge fund and couldn't wait to get short Microsft. However, there is no way to know if this is a buy of the puts or a sell of the puts by whoever originated the transaction. Therefore there is no way to know if it is bullish or bearish.

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